Pegging one currency to another is fundamentally impossible in the long term. If you don't believe me, keep your eye on the foreign exchanges for the next, oh,

Pegging one currency to another is fundamentally impossible in the long term. If you don't believe me, keep your eye on the foreign exchanges for the next, oh, year or so. Hopefully that's a generous enough time frame, since trying to guess how long the paper mache coverings can be slapped up and held together is always very hard, but there's a lot of "pegged" currencies in the world that are not going to be pegged for much longer because they simply won't be able to be.